Vice President for Finance and Corporate Governance AvtoVAZ Oleg Lobanov said that regarding the company does not exclude the scenario in case of bankruptcy, if you can not restructure its debt. We appreciate the news as negative. The introduction of bankruptcy proceedings in respect of AvtoVAZ as a measure of protection from creditors may also lead to a sharp depreciation of the company. In addition, the conditions necessary to attract large amounts of funding looks increasingly likely scenario is an additional issue of shares in resulting in minority interests may be substantially reduced, - commented an analyst at the investment company Finam Konstantin Romanov.

Pharmacy Chain 36.6 announced it has reached agreement with 94% of the owners of the 01 series of bonds totaling 1.8 billion rubles. The restructuring was implemented through the exchange of bonds series 01 on the new issue of bonds series 02. Despite the persistence of fairly difficult financial situation, the fact that the restructuring of problemdebts can be played positively by the market. Nevertheless, we see no significant factors to revise our estimate of the fair value of the shares of the company in the long run, - said in a daily Finam.

Farmstandart published operating results of 9 months of 2009. Revenue on the basis of the reporting period increased in ruble terms by more than 40%. This rate of sales excluding funds from distributive operations and sales Mildronate in 1 semester increased by 27%. Rate of organic sales growth of 1 half of the order of 21%. Overall, we estimate the neutral results of the company for 9 months of 2009. Despite the fact that the 3 rd quarter revenue growth of only 8%, poor results were attributable to significant one-time drop in sales of the drug Mildronate (falling about 50%), and on We believe that this trend would have continued in the 4 quarter, - said Sergey Filchenkov of Finam .

Saturn disclose plans to attract VTB line of credit with a limit of 14.3 billion rubles (about $ 0.5 billion) to finance the ongoing activities and the refinancing of debt. The interest rate will not exceed 21%. We appreciate the news as moderately positive for Saturn. On the one hand, the company could refinance its debt obligations without any problems, and to pay suppliers, which significantly reduces the risk of bankruptcy. On the other hand, interest rate, according to our estimates will be high enough that would have a negative impact on net income and cash flow to shareholders. Nevertheless, in the future, we expect a slight reduction of the interest rate on a credit line as the falling value of money in the economy as a whole, - write analysts Finam .

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